Value of HDB Flats on 99-Year Leases and Flats Undergoing Redevelopment under SERS Programme
- Mr Gerald Giam asked about the number of HDB blocks over 40 years into their 99-year lease, the value of flats at lease end, the average annual flats redeveloped under SERS over the past decade, and whether SERS can redevelop all blocks before lease expiry.
- Mr Khaw Boon Wan stated that about 31,000 flats across 300 HDB blocks are over 40 years into their leases, and SERS has benefited around 18,000 flat owners in the last 10 years.
- SERS is selective, with pace depending on redevelopment potential and resource availability, and HDB flats revert to the state upon lease expiry, with no value retained.